Small Business Loans
Small Business Lending
Your business may need cash to expand, purchase inventory, consolidate debt or purchase equipment. We have money available to help your business grow and the flexibility to tailor a business loan in Saratoga Springs, NY or anywhere in the Capital Region to meet your needs and budget.
Ready to Apply?
Small Business Loans are business purpose loans that are up to $250,000 with total related credit of $400,000 or less. Capital Bank participates in various loan programs for business financing, including U.S. Small Business Administration (SBA) - a program that provides guarantees for business loans for working capital, equipment purchases, or the construction, renovation or purchase of real estate.
For questions or more information about small business loans Schenectady, NY entrepreneurs rely on, please contact us at (800) 836-3711.
Benefits
- Payments automatically deducted from a Chemung Canal checking or savings account
- Saves money, competitive rates, no prepayment penalties
- Convenient: quick turnaround time for decision and closing
- You can apply for a small business loan at any of our branches.
Term Loan
- Investing in major purchases such as plant or office equipment, computer systems, vehicles or machinery.
- Fixed interest rates
- Maximum seven-year term
Line of Credit
- Access funds immediately for working capital, funding accounts receivable and inventory turnover
- Variable interest rates, adjusted daily
- Interest only payments
- Three-year renewal period; no out-of-debt period
Overdraft Line of Credit
- Provide overdraft protection for a Chemung Canal deposit account
- $1,000 to $10,000
- Three-year term
Mortgage
- Purchase, construct, expand or renovate commercial and multi-family property
- Interest rate fixed for the first five years, then adjustable every five years thereafter
- Maximum 20-year term
Commercial Equity Line of Credit
- Just like a home equity line of credit, but on a commercial/multi-family property
- Variable interest rate, adjusted daily
- Five-year draw period followed by a five-year renewal period or termed out
- Monthly payments based on a 15-year amortization